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Gov. Akinwunmi Ambode  of Lagos state, arriving, during the Installation ceremony of Oba Adeyeye Enitan Babatunde Ogunwusi,  Ojaja II as the 51st  Ooni of Ife at Enuwa Palace in Ile-Ife, Osun state, yesterday, 07/12/2015. Photo: Bunmi Azeez, Dare Fasube and Sola Oyelese.

Implications of Lagos bond repayment re-scheduling —Cowry Assets

BONDHOLDERS may hope for improved liquidity with the proposed Lagos State repayment re-scheduling. Reacting to the plans by Lagos State Government to propose a new repayment schedule for the bond Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, said “The reason why the Lagos State Government wants to convert two of its outstanding bonds of N80 billion and N87.5billion, totalling N167.5billion, from bullet payment bonds to amortising bonds is for the state to reduce the interest burden it is bearing on both bonds.

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File photo: The  floor of Stock exchange

Direct cash settlement: No more fraudulent stockbroking

It has happened to many investors. Your stockbroker helps you to sell your shares. You had instructed him to sell at any price because you need the money urgently. He sells the shares at N20 per share but tells you he sold at N18 per share. Or the broker uses your money for his expenses and tells you he is yet to sell the shares. These unethical practices have caused many investors to lose confidence in the stock market and hence discouraged from investing in the market.

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FRCN vs Stanbic IBTC: We were misled

Following the faceoff between Federal Reporting Council of Nigeria, FRCN that led to the sanction of Stanbic IBTC over its audited accounts for 2013 and 2014 and suspension of the financial reporting numbers of the bank’s Chairman, Mr. Atedo Peterside, and its Chief Executive, Mrs. Sola David-Borha, Shareholder Activist, Alhaji Gbadebo Olatokunbo, expressed concern stating that shareholders were misled by the information made available by FRCN.

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